The funding journey for entrepreneurs begins with a familiar and fundamental question: How do I get funding? Yet, as participants in our first Funding Readiness Masterclass quickly discovered, a more important question comes first: How do I build a fundable business?

Hosted in partnership with Startup Grind, the Funding Readiness Masterclass Series was created to bridge the gap between youth-owned businesses and South Africa’s funding ecosystem. Through the series, entrepreneurs are equipped with the structural, financial and strategic capabilities needed to position their businesses for growth and investment.

The opening masterclass focused on a critical yet often overlooked aspect of funding readiness: understanding your business model. While many entrepreneurs view funding as the solution to their business challenges, the session challenged participants to consider whether their businesses are truly ready to receive and effectively use investment.

Drawing on insights from years of experience working across entrepreneurship development, venture capital and SME funding, Mr Price Foundation Executive Director Octavius Phukubye unpacked what funders are really looking for when evaluating opportunities. Participants learned that funding readiness is not a once-off milestone, but an ongoing process of building a commercially viable business with strong financial discipline, capable leadership and a clear value proposition.

One of the key messages from the session was that access to funding is often less about the availability of capital and more about a business’s ability to demonstrate its readiness for investment. While there is significant funding available across South Africa’s entrepreneurial ecosystem, many funders report that they struggle to find businesses that meet the requirements for investment.

The masterclass explored some of the most common reasons funding applications are unsuccessful, including weak financial management, applying to the wrong type of funder, inadequate business models and poor understanding of market opportunities. Participants were encouraged to look beyond the pursuit of funding itself and instead focus on building strong business fundamentals that naturally make their ventures more attractive to investors.

The session also provided practical guidance on navigating the funding landscape, helping entrepreneurs understand the different types of funding available, from grants and debt financing to equity investment and blended finance. Importantly, they were reminded that not every funding opportunity is suitable for every business, and that aligning the right funding instrument with the right stage of growth is critical.

Perhaps the most valuable takeaway was a shift in perspective. Rather than asking how to secure funding, entrepreneurs were encouraged to focus on creating businesses that customers value, that generate sustainable revenue and that can clearly demonstrate their potential for growth and impact.

As the Funding Readiness Masterclass Series continues throughout the year, South African entrepreneurs can look forward to practical insights, tools and expert guidance designed to strengthen their businesses and improve their readiness for future funding opportunities.